Mark Wilson

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What Every Florida CEO Is Wondering: What Will the Next Five Years Hold for Florida’s Economy

By Mark Wilson, President & CEO, Florida Chamber of Commerce and Foundation

In 2019, the Florida Chamber Foundation set out on a bold mission: unite Florida leaders around a roadmap that would position Florida among the world's top 10 economies. After gathering input from over 10,000 Floridians, we launched the Florida 2030 Blueprint, a comprehensive strategic plan to grow and sustain Florida, measuring everything from improving early childhood education outcomes to enhancing Florida’s transportation and international trade infrastructure.

Now, as we reach the halfway point in the Florida 2030 Blueprint, it's time to assess our progress and recalibrate. We've surveyed business and community leaders across Florida to understand what's working, what's changed, and what adjustments we need to make as we approach 2030 and the years ahead. We’ll unveil our updated research at the Future of Florida Forum (F3) & Florida Chamber Annual Meeting this month in Orlando, where we invite you and your leadership team to hear the full analysis, how it impacts your business and Florida’s economic landscape, and how you can join the ongoing movement to secure Florida’s future.

When we planned the Florida 2030 Blueprint in 2018, we anticipated disruptions—but could not have foreseen what was ahead. A global pandemic accelerated changes we thought would take a decade. Telemedicine went from a distant possibility to an everyday reality (and necessity). Supply chain vulnerabilities highlighted both challenges and the need to double down on our 2030 goal to grow Florida to a top 5 state for manufacturing. At the Future of Florida Forum, Florida’s business, political, non-profit, and community leaders will discuss how to turn these disruptions into competitive advantages as AI reshapes every industry.

Through every challenge, Florida has maintained momentum and the data tells a compelling story. Florida is number one in the nation for new business startups and has been for the last 8 consecutive years. We're number two for overall business climate and rank first for Black-owned businesses, and second for Hispanic-owned and women-owned businesses.

Survey respondents overwhelmingly agree that Florida's business climate for entrepreneurship is strong and getting stronger. Capital goes where capital is loved, and Florida has created an environment where businesses can thrive: no state income tax, low state regulatory burden, and a commitment to supporting private sector growth.

Currently, if Florida were a country, we'd be the 16th largest economy in the world (and growing), with a GDP of $1.82 trillion – larger than Indonesia, Turkey, and Saudi Arabia (and gaining on Mexico at $1.85 trillion). Over 1,000 net new people move to Florida every day. We've maintained the world's most capable spaceport, moving from one launch per week to an anticipated launch every three days next year.

In regard to cutting childhood poverty in half—one of our most ambitious moonshot goals led by our Florida Prosperity Initiative, we've reduced the number of Florida children living in poverty from almost 830,000 to approximately 714,000. We're not there yet, but the strategy is working. In higher education, we're number one in the nation. In technology jobs, we've climbed to number four and continue rising to our 2030 goal of top 3.

We're also clear-eyed about our challenges. Affordable housing availability and the need for resiliency and quality remain a significant concern across all sectors. Rapid population growth and the need for resiliency have strained infrastructure faster than anticipated. But in Florida, we tackle challenges together. The Florida 2030 Blueprint isn't the Chamber's plan; it's Florida's plan, built by business leaders, educators, non-profit partners, and engaged local leaders. Your voice and leadership in this recalibration matters.

If your business depends on understanding Florida's trajectory—from AI's impact to infrastructure investments and workforce development—I hope to see you at the Future of Florida Forum (F3)& Florida Chamber Annual Meeting.